Central Hanover Bank & Trust Company (New York, NY)

Episode Information

Episode UID
1003371599
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
100337 routing
Routing Number
1-0033
Start Date
March 5, 1933
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7a9ad5dc33da0385

Response Measures

None

Description

Reopening described as limited basis rather than full normal operations.

Events (2)

1. March 5, 1933 Suspension
Cause
Government Action
Cause Details
State-declared banking moratorium (Gov. Lehman's bank holiday) and related clearing-house/holiday measures
Newspaper Excerpt
the bank holiday declared by Gov. Lehman
Source
newspapers
2. March 8, 1933 Reopening
Newspaper Excerpt
Leading New York city banks ... opened for business on limited basis again Wednesday ... The Central Hanover Bank and Trust Co. announced it was complying fully with Secretary Wood rulings on cashing pay rolls and meeting the needs of the necessities of Depositors could get small checks cashed if they could show they needed it. (Mar 8, 1933).
Source
newspapers

Newspaper Articles (3)

Article from The Buffalo News, December 8, 1932

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Article Text

LIVESTOCK EAST BUFFALO. Dec Cattle receipts 275 Hogs Sheep Calves 150 eported that their well filled with Thursday and the butchering grades the was very slow with Eight loads the were had been sold also little selling lower Monday. Today's Quotations. Prime heavy 11-1400 pounds Fair Plain Good lbs. Best Medium good Common fair 3.00 Yearling heifers Best Common fair Best fat cows Canners, Canners. common Best Sausage bulls Stockers and feeders 4.00 Light and handy of hogs got slow higher than Wednesday from tween and 260 went pers and brought load went Today's Quotations. Heavies Mixed and medium Yorkers Lights and Roughs 2.75 Sheep and Lambs. sharply Thurshandy kinds cents over the week reaching Fed lambs weighing slow Medium grades Sheep remained unchanged Today's Quotations. Spring Yearling lambs Wethers Bucks Calves The away slow start Best being veals held early up bids Today's Quotations fair calves Heavy, fat calves 4.50 CHICAGO LIVESTOCK CHICAG cluding opened bids 180-290 packing weight medium packing good and 1500 general asking tively yearlings light yearlings and others and and 6001300 lbs 16 cluded and 64 stocker feeder SHEEP and uneven: higher grade steady good butcher weights all 50-75 good and choice NEW NEW YORK YORK LIVESTOCK VEALERS AND Vealers good to all Market Transactions on the New York Stock Exchange Approximated 550,000 Shares. Prev. (Prev. 1932) Prev. Prev. 1932) Prev. High Low Stock and Div Close Open High Low Close (Prev. 1932) High Stock Div. Close Open High Low Close Low Stock and Div. Close Open High Low Prev. Close High 241/4 10% Gillette 17% 17% Stock and Div. Close Open High 7% Std Gas & 12% 12% 121/4 Low Close Adams Express 5% 51/2 12% 11% 51/2 Gobel Adolph 411/4 Realty Air Reduction 55 101/4 Gold 16 Rubber Alaska 13% 13 Goodrich Rub Kan 1st Alleghany 31 Goodrich S&R Std Allied 761/2 52% 51/2 Goodyear Tire U Steel Corp Sterling Secur 32% 117 117 Graham Stewart Warner Am 141/2 20 20 United 29% Stone Webst'r 10% Am Can 52 Gt North Ore 13% 3% 3% 21/2 Studebaker Cor. 3% 117 117 117 117 Am Superheater Gt Vadsco Sales Am 83 36% 72 23% 12% 12 Alcohol Grigsby Gruno 91/4 Texas 15 14% Virg Caro Chem Tex Sulphur 71/4 Vulcan Detin'g 211/4 Hahn Stor Pac Oil Hall Printing Land 41/4 25 Wabash 4.20 Thatcher Mfg Helme 21% Wabash pf Ice Hershey 19 5% Sys Am Holl'nd Furnace 2% Ward Baking Am Inter Homestake Warner Bro 1% 1% 7% Rol 1% Houston Warn Houston 8% Warren Bros Hudson West Maryland. Am Trico 2.50 Hupp Motor Western 3% 30 3% West Am Rad 4% Illinois Central 13% Westing Carbide 24 Indust 25 25 25 White Sew Mac. 22% Union Ingersol Rand 2 White 27% Union Pacific Insuranshare Wilcox Ref Uni Interboro Trans 24% 25% Int United Carbon Wilson Co 21% Am % 18% Interna United 45% Cement 22 Woolworth United Int Combus 20 30% 39% 20 Int Unit Corp pf 3 7% 1% Yellow Trk 32% 3% Int Harvest 22 86% Tobacco Young Sp 6% 6% Int 89% Tobac Young Sh Interna Nickel Gyps Am Water Int Am Zenith Radio * Int Printing 4% Zonite Products. 16 Leather 6% Int 19% And Extras. Stock. Anaconda Cop 7% 51/4 Anchor Cap Intertype Corp GENERAL MOTORS CAR Archer DUTY-FREE ENTRY ANCHOR CAP REDUCES Armour INVENTORIES SMALLER 33% 10 Johns Manville 22 22 Armour DIVIDEND ON COMMON OF WHEAT DENIED Assoc tories of finished cars the hands NEW YORK, Dec. 8 (AP) -Anchor % Atch of General Motors are at Cap corporation Thursday declared Kelvinator the lowest since the corporation dividend of 15 cents common share, Kennecott Cop 91/2 British Customs Officials Make 8% Atlantic 161/2 began preparing statistics against quarterly Kresge on unsold payments 10% 10% 101/2 Auburn Mot of 30 cents. payable Jan. 3 to stock of cars P Sloan Jr pres- Ruling Against Canadian Kreuger 7% Aviation record Dec. Corp ident of the corporation, Thurs10 151/4 15 15 15 Test Shipment. day 12 Baldwin Locom 6% 6% 6% In the months stocks of 56% 25 Lambert ENDICOTT-JOHNSON Baldwin cars in the field decreased 46,246 WINNIPEG Dec (P).-Liverpool 5% Balti Ohio corporation. shoe customs officials have against Lehi Port Thursday declared Sales to consumers in the United duty-free admittance of Lehigh States in November regular dividend cents 3% Barnsdall totaled 12,780 wheat not shipped via a Canadian Canadian 59 Lehigh Val Coal units 26,941 payable Jan. Bayuk Cig in Octostock of record Dec. 18% Lehman in 1931. Bendix Aviation The owners, it is understood. will Lehn 15% November dealers the ask for an appeal of the decision. says 29% Myer United against Bethlehem Steel Broomhall cable today BUFFALO EXCHANGE 5810 October and 23,716 year Bethl'm Broomhall's Liverpool Lima ago dealers 221/4 Wks. in 47/8 Bohn Alum the United States Canada, to- The following quotations represent Liquid Carbon Borden Liverpool customs house has 37% gether overseas. to- full lots 131/4 Incorp 3. 23% Borg Warner made first ruling against admitting follows shares all stocks except taled against 10.924 in October Lofts parcel of bank for which the Briggs Mfg wheat duty free unit 18% and 29,359 November last year. Lorillard 13% which had not been shipped via In stocks under $50. Bklyn Manhat shares: Louisiana Canadian Bklyn bank one share. shares. Bonds B., R. & P. RECAPTURABLE 36 23 19 "This was test case and it are in $100 Brown Shoe 3 32 23% Lou INCOME AT $327,560 understood the 18 owners ask for Bruns Ry BANK AND INSURANCE STOCKS 11% an appeal from this decision. Ludlum Steeln Erie WASHINGTON Dec. (P)-The High Low Close Budd Mfg M&T commission HANOVER BANK IS ASKED Budd 10 Mack Trucks 201/4 Thursday fixed tentatively the reBUFFALO EXCHANGE SALES Burro Macy capturable excess income of NOT TO SELL COLLATERAL 7% the BufTotal sales including odd lots 21% Bush Sq Rochester Pittsburgh Madi Garden Railway Previous CHICAGO, Dec. 65 Bush Magma Cop for the last four months of ago that the Central Hanover Bank & Year ago Butte Manh Ry 14,223 M. 57/8 Trust company of York planned shares traded 24% The until Byers Manhat'n Jan 23 12% 13 cluding odd lots on 12 sell collateral held on 4200 to file exceptions to the finding Marine Mid 97/8 789 loan to the National Pub19 Marshall Field lic Service Charles Packing INDIVIDUAL SALES Alkill BRIGHT SPOTS IN TRADE McCullough and Edward Hurley Callahan May receivers for the Middle West Utilities Am & Hecla Co Trust company, in joint statement WedWy PHIL William H. Tay 15 nesday night such procedure Dr president of the Philadelphia 20% would break up that unit of Middle Canadian Pac 13 Electric company BID AND ASKED that West would seriously affect 65% McKess his company $10,000,000 000 stockholders Cater Tractr building program for 1933. STOCKS .50 The receivers pleaded that the bank Melvil 1.20 Cerro further Stock Div give consideration Bid Asked the probMengel CHICAGO- Walgreen company lems of National corporation before Abstract 1.00 Miami Copper the Laund Chesa selling months the been the N & 1st 86 Chesa& rising toward the 1931 figures. halt plans to raise $21 to pay Bflo vember Corp 12% sales of were 12.9 off loans five New York banks Corp pfd 20 Mo Pacific per cent. under November. 1931: meeting is in New 141/2 Pacific cent. under October York Deco Restaurants Inc. Chi Northw'n Friday 3ยฝ Montgom Ward 13% 1931. and September's per cent Chi Inc. Motor and August's per cent under the SCRAP STEEL LOWER Rock Prods: 121/4 corresponding 1931 periods. Novem- NEW Dec. Motor Wheel Niagara Hudson Pow 1.30 14 ber's seasonal October ing to further curtailment in Niagara Hudson Cab Mullins Mfg Cor* 7% 7% operating Rich Ice Cream was also less this year 1931. schedules leading 121/2 21/8 Murray Chickasha 3% Spencer Kellogg $200,000 as compared to $430,000. and pig markets have Childs 24% tended toward price levels dur- Sylvanite Gold 21% Nash Motors Chrysler 16% CHICAGO- weekly reing the past week The tin plate de231/2 BANK AND INSURANCE STOCKS City Ice view stresses partment continues most active Central 120 Ken 80c Cola Cash volume of shopping No division of the industry East Side 50 41% 14% Cola figures are given, but the says First Natl Ken 10 that the CAR OUTPUT INCREASES Guardian Distillers favorably 2% with that of previous years. Liberty Bank Collins 50 Lincoln National National mobile production in the United Marine Midland Col NEW Power production in States Canada for November State Bank Gas Ken the United last totaled 61,216 cars and trucks. comCarbon 2 Newport INVESTMENT TRUSTS AND SHARE the Electric Light pared 51.857 in October and Central 22% CORPORATIONS 28 reports. Output totaled 337 000 70,114 in according City Union Nickel Plate 3 10 26 25 kilowatt to the Automobile Chamber Interbanc Inv 20c Investors to of Commerce Interbanc warrants 13% 268,000 for the ending Nov. 26 Com 60 New Haven Liberty Share wealth M&T Securities Haven CHICAGO-Rand McNally & Co. Niag Share Congoleum Noranda Mine 2 17% BUSINESS AT A GLANCE report that in the ended Wed Share warrants Cons Film Amer Niag Share 45 nesday bank suspensions were 23.9 Consolid Gas Nor Amer NEW Dec 8 Share Following per cent. under those of the cor- WNY Securities Thursday's Consol Gas Am Aviat'n. responding period last news The prepared Standard Statistics BONDS Laundr's 25% Northern Pac big amount of deposits tied up year. showed Inc., New for the Associated Consolidat'd decrease Press United Oil also deb Automobile Parts and Tires. 5 Ohio Co 900 compared with 193 average Laund 6ยฝ 47% YOUNG SPRING Oliver of of $569,000 B&NFElec En 41 quarterly dividend of Nat the first half of 1932 50 36 11/2 25 cents Dia Otis Food Products. 6% Steel QUAKER OATS-Made Flexlume 40 3% MARKET AVERAGES further 421/4 12 its breakfast Int 30 Owens Il Glass 35 35 lines close 30 per Salt Continental which 5% cent. was STOCK AVERAGES and 24% Corn Prod 37 Pacific mark Power Standard connection with 140 Co.) Niag Corn Prod said 134 20% Pacific Dec but slightly Coty 3% Packard valuation of WNYW because grain buying Crosley 88% policy WNYW Paramo't Wednesday Sterling Crown Cork Leather and WNYW con Pathe Exchange 98 France ago SHOE Patino 20 regular monthly of 30 cents Belgium Cudahy Penic Ford 27 each BANKRUPTCY PETITIONS Germany 13 Penney years ago Holland and Railroad 11/2 Curtis Wright 21/2 Penn Cem CHICAGO. MILWAUKEE ST PAUL & were 13% operat filed by these Spain 91/4 of deficit for liabilities and Peo Gas assets being listed Greece PAUL Milk Co Argentina months ended 32 High 1930 Phelps Oct 446 $6298.66 and $530 1930 Dela NORTHERN 25% Phil & George Ensman, Rochester, and 26 months Oct. $6,372,358 Phillips Petrol AVERAGES 122 2% (Copyright, income Frank Fitch Brighton $383,943.57 and Edison 6 9% Pillsby Flour 60 Co.) LOUIS-SAN 73% FRANCISCO 73% Pitts United Cor Harold Stitz salesman, 12 for an additional loan Diam'd Match and Phillip Morris Dome Wednesday also known as Mines Felix Plymouth Tuesday Fisher. Rommel $1160 and no JEWEL TEA quarterly Incorp Proct ing dividend 28 Pub Ser previously Teddy known Edmund 35% Year ago 80% McCRORY $8500 deN sales off 101 101 101 101 ago and months off cent Pullman Inc MONTGOMERY WARD Henry Wolkind. merchant. Buffalo. no Eastm schedules obtained further 52% Time 32% Purity when were 20 sales Schedules Westfield were filed by the the indicated Co., Elec level of High Frank per Radio Am off Albion. $29,624.87 sales 8.8 Radio B per per cent 20 DOW SCHIFF COMPANY Elec Stor Radio AVERAGES sales off 24 10 and cent. Reming Rand WESTERN SUPPLY $37,166.17 and 181.53 1/2 Reo Motor per months off 6.3 per cent Off Bldg 1.50 Rep Iron Tuesday Shipping and Shipbuilding. Thirty Month BUSINESS NAMES Sixty Eureka Vacu Cl. Reynold AMERICAN SHIPBUILDING 50 5% Ninety regular dividend of cents. 1/2 Evans Products Reyn camore Auto Sales Co." Anna Leader Richfield 123 Five 92 PAJARDO SUGAR Received $900.000 Bakery." Fashion Pk Asso George Truck Low as of Flower Shop. William Safeway 1249 Thursday Chic Wednesday Tire AMERICAN 614 For ALO EVENING NEWS AVERAGES GAS Louis Buffalo Stor 2.50 50 stock of cent. Lawrence E Foundation Co Seaboard Air Dec. stock and quarterly 2% Seab Corp 19% high 251 28% 10 CENTRAL SERVICE Peach 37% 66 Freeport Tex Sears Roebuck 23% 23% high appointed for 24 840 Seneca Copper low court. pending 3.83 Gen Tank Servel which had been Fuel Louis Balber. 127 12% COMMODITY PRICE LEVEL filed against company Gen Asphalt Shatt'ck NEW ELECTRIC LIGHT of 15 -Declared Gen Shell Union Oil. dividend met Baking Bronze stock of Elven Previous day 38% 20 2% on Cigar Skelly Oil Co Month NEW 1932 Co." Mildred 103.9 previously paid $1.50 Sloss 79.8 respec- Fordham Gen Electric 40. Moody's) Arthur C. Gen Snider FEDERAL LIGHT 20 Elec DeGen Socony 40 clared cash Food Vacu increased interest in stock dividend of per cent. on 15% Sou Calif the shares. 28 with Southern Pac RAILWAY States 40 the the FOREIGN MARKETS Gen Motors Southern Ry Circuit Court of New reversed ruling The Gen Motors Southern Ry taken pf raw which declared that dend Judge Manton Gen 41/2 Sug Outdr Adv. receivers for and among LONDON Trading Pub Service Sparks Withing usurping and the three the exchange large groups in receiver 1/4 Std case were null and the payable case debt Std with closing Dowling and Murray 1931, was taken as 100. in full charge. on


Article from Daily News, March 5, 1933

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Article Text

ASK CONGRESS TO APPROVE CITY'S SCRIP (Continued from page 4) up to his old chief, the President, the Albany moves do not appear significant. During the World War the President was given the power of declaring an embargo on gold, and this apparently has not been repealed. It is believed at Washington the President could act immediately on this war-given authority. However, the gold situation, which was considered distressing when heavy demands from purchasers here brought the total net loss for Friday up to $116,000,000, improved somewhat yesterday. The New York Federal Reserve Bank announced yesterday that the nation's gold stocks increased by $39,754,500 after the 3 P. M. close of the banking day Friday. Bankers late yesterday insisted that the banks here have plenty of money. However, they declared, the demand from local depositors, as well as from other States suffering from bank holidays, became so enormous the local institutions simply lacked the facilities to handle it. Lack of Facilities Alibi. It was this lack of facilities for handling demands, more than anything else, which really forced the bank holiday declared by Gov. Lehman, according to the bank officials. In some cases bankers admitted they were caught napping by the bank moratorium, which began in Detroit Feb. 14, but was never expected to sweep the country the way it has done. Although crowds milled around banks there was no disorder. However, at Geneva, N. Y., angry muttering of crowds around closed banks led to troops being called out to protect public buildings. "Instruct the men to jolly peo- ple along-all this needs is a little bit of common sense," Police Commissioner Edward P. Mulrooney said, in ordering one patrolman posted at every branch bank. Payroll Checks Cashed. The Corn Exchange Bank Trust Company, with multiple branches, as well as the Central Hanover Bank and Trust Company and the Irving Trust, paid cash on all payroll checks, and also on other small checks from depositors. When the Corn Exchange, which had been allowing depositors to withdraw 10 per cent. of amount on deposit, learned that the bank holiday was mandatory, it closed its branches at 11 A. M. The Irving Trust continued to cash payroll checks until the regular closing hour at noon. R. H. Elmedorf, assistant vice-president, said this action was taken to ease the strain. He declared he didn't know what policy would be pursued tomorrow, but added his institution "will do nothing that would seem to be in violation of the understanding of the clearing house banks." Throughout the Bronx, Brooklyn, Queens and Staten Island, branches of various banks paid payroll checks until it was learned the


Article from The Omaha Evening Bee-News, March 8, 1933

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BANKS OPEN IN NEW YORK ON LIMITED BASIS By JAMES L. KILGALLEN and International News Service Staff Correspondent Leading New York city banks and trust most pow. erful financial institutions in America opened for business on limited basis again Wednesday, operating fairly smoothly and efficiently in contrast to Tuesday's confusion and uncertainty. A stream of needed cash was sent pouring into the public pulse, chiefly through the cashing of pay roll checks. The situation seemed to have taken on a decided inThe Federal Reserve bank which been authorized overnight to resume portion of its central banking functions opened for the time since Friday Its opening assured member banks of cash for necessary pay New York city. in effect was on rations of approximately $10.little under 000 was for pay rolls. The remainder was for other necessities. such as food Member banks of the city are said to have in the neighborhood of cash on hand. The reserve bank has much more and believed to have received at least 000 in new money from Washington Friday Business was done in conform ity with the regulations issued Tuesday by Secretary of the Treasury These provid ed for supplying funds to meet honoring checks absolutely necessary purchases and furnishing accommodations to finance the movement of foodstuffs into the city Governor Herbert H Lehman had assured could operate the federal regulations The bankers thought federal and state regulations conflicted The Central Hanover Bank and Trust Co. announced It was "com plying fully with Secretary Wood rulings on cashing pay rolls and meeting the needs of the necessities of Depositors could get small checks cashed if they could show they needed it. We will continue to meet pay rolls in limited way. the as yesterday was the of the Continental Bank and Trust Co. 'Pay rolls were met 25 to 30 per cent Tuesday not cashing personal checks.' The Corn Exchange Bank and Trust Co. was "meeting pay rolls in limited They were also accepting new deposits in special accounts for the first time since the banking holiday Amalgamated bank announced would have to get the federal reserve loosen funds before starting business under the new regulations